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Coca-Cola beat earnings estimates, boosted by premium brands and a major Africa bottling deal, while reaffirming full-year outlook.
Coca-Cola posted stronger-than-expected third-quarter results, with organic revenue rising 6% to $12.41 billion and adjusted earnings per share reaching 82 cents, above the 78 cents forecast.
Growth was driven by higher prices, strong sales of premium beverages like Zero Sugar, Smartwater, and Fairlife, and new mini cans, while global case volumes rose 1% despite flat demand in North America and Latin America.
The company maintained its full-year guidance, reaffirmed a $2.55 billion deal to sell a 75% stake in its African bottling unit to Coca-Cola HBC AG, and reported a 30% surge in net income to $3.69 billion.
Shares rose 3.5% in morning trading.
Coca-Cola superó las estimaciones de ganancias, impulsadas por marcas premium y un importante acuerdo de embotellado en África, al tiempo que reafirmó las perspectivas para todo el año.